Grosvenor Americas Acquires Pair of Office Buildings in Georgetown for $85M
Grosvenor Americas has acquired both the Green and Harris buildings in Washington, D.C., from Equity Commonwealth for $85 million, according to the buyer.
The two office buildings, located at 2001 Wisconsin Avenue and 3300 Whitehaven Street in Georgetown, total 240,000 square feet. The Green building was constructed in 1967, while the Harris building was built in 1975, and both were renovated back in 2006.
The four-story Green building is occupied by the British International School of Washington, while the five-story Harris building is occupied by the Georgetown University Center for Child and Human Development.
“We were attracted to these properties because of the excellent location, great tenancies and long term optionality,” Scott Brody, Grosvenor Americas’ senior vice president and general manager, Washington, D.C., told Commercial Observer. “The purchase builds on our long track record of creating value through a pro-active asset management approach. The buildings are well-aligned with Grosvenor’s investment strategy in D.C., which is to deliver lasting commercial and social benefit through the active management of properties in urban locations.”
The buildings are situated near Glover Park, a key destination in Georgetown.
“Georgetown is a highly-desirable location known for walkability and neighborhood vibrancy; these attributes play an important part of our investment approach,” Brody said.
In line with Grosvenor’s commitment to achieve net-zero carbon operational emissions from all of its directly managed buildings globally by 2030, the company plans to work with tenants to enact green-friendly updates to both buildings.